New Feature: A New Era for News on Finviz

Learn More

10x Genomics Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Outlook for 2026

By PR Newswire | February 12, 2026, 4:05 PM

PLEASANTON, Calif., Feb. 12, 2026 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, today reported financial results for the fourth quarter and full year ended December 31, 2025 and provided its outlook for 2026.

Recent Updates

  • Revenue was $166.0 million for the fourth quarter of 2025, representing a 1% increase over the corresponding period of 2024. Revenue was $642.8 million for the full year of 2025. Excluding $44.1 million of non-recurring revenue related to patent litigation settlements, full-year revenue was $598.7 million, representing a 2% decrease from the full year of 2024.
  • Announced partnerships with the Cancer Research Institute and PharosAI to build some of the world's largest AI-ready datasets for cancer research, leveraging our Chromium and Xenium platforms to transform thousands of clinical samples into high-resolution multimodal insights for drug discovery and diagnostics.
  • Entered into a collaboration with Dana-Farber Cancer Institute to analyze patient tumor samples, marking the beginning of a multi-year research initiative to incorporate single cell and spatial tumor analysis into potential diagnostic workflows to support cancer patient care.
  • Launched a study with Brigham & Women's Hospital aimed at identifying single cell blood-based signatures of autoimmune disease activity and treatment response to support clinical care.
  • Ended the year with $523.4 million of cash and cash equivalents and marketable securities, an increase of $130.0 million over the prior year.

"In 2025, our team executed with discipline through a challenging environment while continuing to strengthen the fundamentals of the business," said Serge Saxonov, Co-founder and CEO of 10x Genomics. "As we look to 2026, I am excited by the expanding impact of our platforms, driven by new product innovations and strategic partnerships. We are well positioned to execute across multiple growth vectors in the business, especially AI-driven demand, translational research and emerging clinical opportunities."

Fourth Quarter 2025 Financial Results

Revenue was $166.0 million for the three months ended December 31, 2025, a 1% increase from $165.0 million for the corresponding prior year period. 

Gross margin was 68% for the fourth quarter of 2025, as compared to 67% for the corresponding prior year period. The increase in gross margin was primarily due to lower inventory write-downs, lower royalty costs and lower warranty costs, partially offset by higher manufacturing costs.

Operating expenses were $132.6 million for the fourth quarter of 2025, an 18% decrease from $160.8 million for the corresponding prior year period. The decrease was primarily driven by lower outside legal expenses and personnel expenses.

Operating loss was $19.5 million for the fourth quarter of 2025, as compared to an operating loss of $49.8 million for the corresponding prior year period. This includes $25.2 million of stock-based compensation for the fourth quarter of 2025, as compared to $32.5 million for the fourth quarter of 2024.

Net loss was $16.3 million for the fourth quarter of 2025, as compared to a net loss of $49.0 million for the corresponding prior year period.

Full Year 2025 Financial Results

Revenue was $642.8 million for the year ended December 31, 2025, a 5% increase from $610.8 million for 2024. Excluding $44.1 million related to patent litigation settlements, full-year revenue was $598.7 million, a 2% decrease from the prior year.

Gross margin was 69% for full year 2025, as compared to 68% for 2024. The increase in gross margin was primarily due to higher license and royalty revenue and lower royalties and warranty costs, partially offset by an increase in inventory write-downs and higher manufacturing costs.

Operating expenses were $504.9 million for full year 2025, as compared to $609.0 million for 2024, a decrease of 17%. The decrease was primarily driven by a $49.9 million gain on litigation settlements, lower outside legal expenses and personnel expenses.

Operating loss was $61.0 million for full year 2025, as compared to an operating loss of $194.6 million for 2024. This includes $108.8 million of stock-based compensation for full year 2025, as compared to $140.7 million for full year 2024.

Net loss was $43.5 million for full year 2025, as compared to a net loss of $182.6 million for 2024.

Cash and cash equivalents and marketable securities were $523.4 million as of December 31, 2025.

2026 Financial Guidance 

10x Genomics expects full year 2026 revenue to be in the range of $600 million to $625 million. Excluding the non-recurring license and royalty revenue related to patent litigation settlements in 2025, this represents 0% to 4% growth over full year 2025.

Webcast and Conference Call Information

10x Genomics will host a conference call to discuss the fourth quarter and full year 2025 financial results, business developments and outlook after market close on Thursday, February 12, 2026 at 1:30 PM Pacific Time / 4:30 PM Eastern Time. A webcast of the conference call can be accessed at http://investors.10xgenomics.com. The webcast will be archived and available for replay for at least 45 days after the event.

About 10x Genomics

10x Genomics is a life science technology company building products to accelerate the mastery of biology and advance human health. Our integrated research solutions include instruments, consumables and software for single cell and spatial biology, which help academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that matches the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that are transforming the world's understanding of health and disease. To learn more, visit 10xgenomics.com or connect with us on LinkedIn, X, Facebook, Bluesky or YouTube.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. All statements included in this press release, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "see," "estimate," "predict," "potential," "would," "likely," "seek" or "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding 10x Genomics, Inc.'s products and services, opportunities and 10x Genomics, Inc.'s financial performance and results of operations, including expectations regarding revenue and guidance. These statements are based on management's current expectations, forecasts, beliefs, assumptions and information currently available to management. Actual outcomes and results could differ materially from these statements due to a number of factors and such statements should not be relied upon as representing 10x Genomics, Inc.'s views as of any date subsequent to the date of this press release. 10x Genomics, Inc. disclaims any obligation to update any forward-looking statements provided to reflect any change in 10x Genomics' expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. The material risks and uncertainties that could affect 10x Genomics, Inc.'s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recently-filed 10-K and elsewhere in the documents 10x Genomics, Inc. files with the Securities and Exchange Commission from time to time.

Disclosure Information

10x Genomics uses filings with the Securities and Exchange Commission, our website (www.10xgenomics.com), press releases, public conference calls, public webcasts and our social media accounts as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.

Contacts

Investors: [email protected]

Media: [email protected]

 

10x Genomics, Inc.

Consolidated Statement of Operations

(Unaudited)

(In thousands, except share and per share data)





Three Months Ended

December 31,



Year Ended

December 31,



2025



2024



2025



2024

Products and services revenue

$         165,689



$         164,910



$         596,688



$         610,464

License and royalty revenue

341



111



46,135



321

Revenue (1)

166,030



165,021



$         642,823



$         610,785

Cost of products and services revenue (2)

52,985



54,066



198,942



196,303

Gross profit

113,045



110,955



443,881



414,482

Operating expenses:















Research and development (2)

55,969



66,968



238,632



264,698

Selling, general and administrative (2)

76,617



93,826



316,134



344,343

Gain on settlement





(49,900)



Total operating expenses

132,586



160,794



504,866



609,041

Loss from operations

(19,541)



(49,839)



(60,985)



(194,559)

Other income (expense):















Interest income

5,492



4,467



20,048



18,930

Interest expense







(4)

Other (expense) income, net

(1,144)



(3,008)



1,030



(2,067)

Total other income

4,348



1,459



21,078



16,859

Loss before provision for income taxes

(15,193)



(48,380)



(39,907)



(177,700)

Provision for income taxes

1,059



648



3,637



4,927

Net loss

$          (16,252)



$          (49,028)



$          (43,544)



$       (182,627)

















Net loss per share, basic and diluted

$              (0.13)



$              (0.40)



$              (0.35)



$              (1.52)

Weighted-average shares used to compute net loss per share, basic and diluted

127,078,342



121,596,351



124,749,885



120,451,550

 

(1)

The following table represents revenue by source for the periods indicated (in thousands). Spatial products includes the Company's Visium and Xenium products:

 





Three Months Ended

December 31,



Year Ended

December 31,





2025



2024



2025



2024

Instruments

















Single Cell



$              6,105



$           10,929



$           22,671



$           35,212

Spatial



9,364



13,425



34,108



57,503

Total instruments revenue



15,469



24,354



56,779



92,715

Consumables

















Single Cell



100,790



97,737



363,206



372,308

Spatial



40,959



35,795



143,977



121,124

Total consumables revenue



141,749



133,532



507,183



493,432

Services



8,471



7,024



32,726



24,317

Products and services revenue



165,689



164,910



596,688



610,464

License and royalty revenue



341



111



46,135



321

Total revenue



$         166,030



$         165,021



$         642,823



$         610,785

 

The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands):

 





Three Months Ended

December 31,



Year Ended

December 31,





2025



2024



2025



2024

Americas

















United States



$           78,957



$           84,285



$         346,512



$         334,318

Americas (excluding United States)



3,217



2,936



12,261



13,447

Total Americas



82,174



87,221



358,773



347,765

Europe, Middle East and Africa



53,463



49,828



161,716



159,762

Asia-Pacific

















China



15,022



14,609



70,264



57,300

Asia-Pacific (excluding China)



15,371



13,363



52,070



45,958

Total Asia-Pacific



30,393



27,972



122,334



103,258

Total Revenue



$         166,030



$         165,021



$         642,823



$         610,785

 

(2)

Includes stock-based compensation expense as follows:

 



Three Months Ended

December 31,



Year Ended

December 31,

(in thousands)

2025



2024



2025



2024

Cost of product and services revenue

$           2,011



$           2,221



$           8,497



$           8,348

Research and development

11,531



15,587



49,568



66,315

Selling, general and administrative

11,672



14,731



50,739



66,086

Total stock-based compensation expense

$         25,214



$         32,539



$       108,804



$       140,749

 

10x Genomics, Inc.

Consolidated Balance Sheets

(Unaudited)

(In thousands, except share and per share data)







December 31,



2025



2024

Assets







Current assets:







Cash and cash equivalents

$         473,966



$         344,067

Marketable securities

49,443



49,335

Accounts receivable, net

47,013



87,862

Inventory

56,341



83,107

Other receivables

35,480



606

Prepaid expenses and other current assets

22,208



19,410

Total current assets

684,451



584,387

Property and equipment, net

226,711



252,648

Operating lease right-of-use assets

60,450



57,290

Goodwill

4,511



4,511

Intangible assets, net

62,329



15,671

Other noncurrent assets

2,913



4,129

Total assets

$      1,041,365



$         918,636

Liabilities and stockholders' equity







Current liabilities:







Accounts payable

$           12,733



$           12,909

Accrued compensation and related benefits

42,500



33,615

Accrued expenses and other current liabilities

39,971



41,165

Deferred revenue

23,902



20,658

Operating lease liabilities

10,985



9,286

Contingent consideration, current

23,363



Total current liabilities

153,454



117,633

Contingent consideration, noncurrent

1,237



Operating lease liabilities, noncurrent

73,376



73,327

Deferred revenue, noncurrent

10,501



12,513

Other noncurrent liabilities

6,471



5,029

Total liabilities

245,039



208,502

Commitments and contingencies







Stockholders' equity:







Preferred stock, $0.00001 par value; 100,000,000 shares authorized, no shares issued or

outstanding as of December 31, 2025 and December 31, 2024



Common stock, $0.00001 par value; 1,100,000,000 shares authorized and 127,691,329

and 122,291,837 shares issued and outstanding as of December 31, 2025 and 2024

2



2

Additional paid-in capital

2,306,690



2,177,672

Accumulated deficit

(1,510,591)



(1,467,047)

Accumulated other comprehensive income (loss)

225



(493)

Total stockholders' equity

796,326



710,134

Total liabilities and stockholders' equity

$      1,041,365



$         918,636

 

Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/10x-genomics-reports-fourth-quarter-and-full-year-2025-financial-results-and-provides-outlook-for-2026-302686373.html

SOURCE 10x Genomics, Inc.

Mentioned In This Article

Latest News